KARACHI: Pak-Qatar General Takaful Limited (PQGTL), the country’s first dedicated non-life takaful operator, has been listed on the Pakistan Stock Exchange (PSX) following a record-breaking initial public offering, marking a major milestone for the country’s Islamic financial services sector.
The listing ceremony was held at the PSX Trading Hall, where PQGTL formally joined the bourse after delivering one of the strongest IPO performances in the country’s capital market history. The company, part of the Pak-Qatar Group, became the first Sharia-compliant general takaful operator to be listed on the PSX.
Investor response to the IPO was exceptional. The book-building portion was oversubscribed by 21 times, while the public offering attracted 9.6 times subscription. A total of 13,013 applications were received, the highest number ever recorded for an IPO in Pakistan. In a first for the local market, the general public portion was increased from 25 per cent to 30 per cent, widening retail investor participation.
Saqib Zeeshan, chief executive officer of PQGTL, said the listing reflected strong confidence in the company’s Sharia-compliant business model, governance standards and long-term vision. He added that the company remained focused on sustainable growth, innovation and ethical financial solutions.
Arif Habib Limited acted as the lead arranger to the issue. Shahid Ali Habib, CEO of AHL, said the IPO generated total demand of Rs4.74 billion and achieved the maximum premium of 40 per cent, underlining investor confidence in the company’s fundamentals and growth prospects.
PSX Managing Director and CEO Farrukh H Sabzwari described the listing as a historic moment, noting that it coincided with the launch of the T+1 settlement cycle. He said PQGTL’s entry expanded the range of Sharia-compliant instruments available to investors and reinforced confidence in Pakistan’s capital markets.
The gong ceremony was attended by senior management and board members of the Pak-Qatar Group, along with representatives of the Securities and Exchange Commission of Pakistan, PSX, NCCPL, CDC and other market participants.
